Beneficial Ownership Declaration Form for United Arab Emirates

Beneficial Ownership Declaration Form Template for United Arab Emirates

A comprehensive declaration form mandated by UAE legislation, specifically UAE Cabinet Resolution No. 58 of 2020, designed to capture and document the ultimate beneficial ownership structure of entities operating in the UAE. The form requires detailed disclosure of natural persons who ultimately own or control a minimum percentage of the entity, either directly or indirectly, through various ownership structures including shares, voting rights, or other means of control. This document forms part of the UAE's commitment to international transparency standards and anti-money laundering regulations, requiring regular updates and maintenance of accurate beneficial ownership information.

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What is a Beneficial Ownership Declaration Form?

The Beneficial Ownership Declaration Form is a crucial compliance document required for entities operating in the United Arab Emirates, implemented as part of the country's enhanced regulatory framework for corporate transparency and anti-money laundering measures. This form must be completed and maintained by all UAE mainland and free zone companies, excluding some exempt categories, in accordance with UAE Cabinet Resolution No. 58 of 2020 and related regulations. The document captures essential information about individuals who ultimately own or control 25% or more of an entity, including their personal details, nature of control, and ownership structure. Regular updates are required when changes occur in beneficial ownership, and the information must be available for regulatory inspection. Failure to maintain accurate beneficial ownership records can result in significant penalties under UAE law.

What sections should be included in a Beneficial Ownership Declaration Form?

1. Entity Information: Basic details of the declaring entity including legal name, license number, registration authority, and registered address

2. Declarant Details: Information about the person completing the form, including their position and authority to make the declaration

3. Beneficial Owner Information: Detailed information about each beneficial owner including full name, nationality, passport/Emirates ID details, residential address, and percentage of ownership/control

4. Nature of Beneficial Ownership: Specification of how beneficial ownership is held (direct shares, indirect ownership, voting rights, control rights, etc.)

5. Chain of Ownership: Description of the ownership structure showing how beneficial ownership is exercised through intermediate entities if applicable

6. Declaration Statement: Formal declaration confirming the accuracy of the information provided and understanding of legal obligations

7. Certification: Space for signature, date, and official company stamp

What sections are optional to include in a Beneficial Ownership Declaration Form?

1. Nominee Details: Required when shares or control rights are held through nominee arrangements

2. Trust Structure Information: Required when beneficial ownership involves trust arrangements

3. Corporate Director Information: Required when any beneficial owner is a corporate entity rather than a natural person

4. Change Notification Commitment: Optional section committing to notify authorities of any future changes in beneficial ownership

5. Related Party Declarations: Required when there are related parties who may influence control without meeting beneficial ownership thresholds

What schedules should be included in a Beneficial Ownership Declaration Form?

1. Ownership Structure Chart: Visual representation of the ownership structure showing all intermediate entities and percentage holdings

2. Supporting Documents Checklist: List of required supporting documents such as passport copies, corporate documents, and proof of address

3. Register of Changes: Log for recording historical changes in beneficial ownership (if this is an updated declaration)

4. Verification Documents: Copies of official documents verifying the beneficial ownership information provided

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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What is a Beneficial Ownership Declaration Form?

What sections should be included in a Beneficial Ownership Declaration Form?

What sections are optional to include in a Beneficial Ownership Declaration Form?

What schedules should be included in a Beneficial Ownership Declaration Form?

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